2014 Press Releases

These are news releases that are related to our Investor efforts. Releases are listed in chronological order and are archived by year. Sign-up to receive news as it is released using the email and RSS tools below.

ROSEVILLE, Calif.—December 31, 2014 – Solar Power, Inc. ("SPI") (OTCBB: SOPW), a vertically-integrated photovoltaic ("PV") developer, today announced that it has entered into a Settlement and Mutual Release with LDK Solar International Company Limited ("LDK HK"), pursuant to which LDK HK agreed to release and discharge SPI from all actions, claims, demands, damages, obligations, liabilities, controversies and executions arising out of SPI's payables to LDK HK and its subsidiaries, in exchange fo...

ROSEVILLE, Calif.—December 15, 2014 – Solar Power, Inc. ("SPI") (OTCBB: SOPW), a vertically integrated photovoltaic ("PV") developer, today announced the entry into definitive agreements relating to a new private placement of up to $140 million. The private placement was led by Mr. Shi Yuzhu ("Mr. Shi"), founder of Giant Interactive Group Inc., a leading online game developer and operator which was listed on the New York Stock Exchange, and China Dongxiang (Group) Company Limited ("Dongxiang")(3...

ROSEVILLE, Calif.—December 5, 2014- Solar Power, Inc. ("SPI" or "SPI Solar") (OTCBB: SOPW), a vertically-integrated photovoltaic ("PV") developer, today announced that it has entered into an agreement to acquire from Shotmeyer Solar, LLC 100% of its membership interest in Beaver Run Solar Farm, LLC ("BRSF"). BRSF has obtained certain approvals for development of a 9.9 megawatt DC solar project site in Lafayette, New Jersey. As part of the agreement, SPI has also executed a long-term ground lease...

ROSEVILLE, Calif.—December 5, 2014- Solar Power, Inc. ("SPI" or "SPI Solar") (OTCBB: SOPW), a vertically-integrated photovoltaic ("PV") developer, today announced that it has entered into an agreement to acquire from Shotmeyer Solar, LLC 100% of its membership interest in Beaver Run Solar Farm, LLC ("BRSF"). BRSF has obtained certain approvals for development of a 9.9 megawatt DC solar project site in Lafayette, New Jersey. As part of the agreement, SPI has also executed a long-term ground lease...

ROSEVILLE, Calif.—November 25, 2014- Solar Power, Inc. ("SPI" or "SPI Solar") (OTCBB: SOPW), a vertically-integrated photovoltaic ("PV") developer, today announced that two of its wholly-owned subsidiaries in China (collectively, "SPI Solar China"), have entered into agreements to develop two rooftop sites; one in Sheyang City, and another in Suzhou Industrial Park, both in Jiangsu Province, China. The project agreement for the site in Sheyang City calls for SPI Solar China to provide...

ROSEVILLE, Calif. — November 13, 2014- Solar Power, Inc. ("SPI")(SOPW:OTCBB), a vertically-integrated photovoltaic ("PV") developer, today announced its results for the third quarter ended September 30, 2014.Third-Quarter 2014 Results:Total net sales increased from $21.3 million for the third quarter of 2013 to $26.7 million for the corresponding period in 2014, primarily as a result of SPI's successful debut in the China market and revenue generated from operations in China. Total net sal...

ROSEVILLE, Calif.—November 7, 2014 - SPI Solar ("SPI")(OTCBB: SOPW), a vertically integrated photovoltaic solar developer, today announced the completion of the private placement of its common stock for an aggregate price of $48.25 million, as previously announced on September 23, 2014. Net proceeds from the sale of the shares are intended to be used for expansion of SPI's global PV project activities, continued investment in ramping its YES!® Solar solution for the residential and small b...

SPI Solar to Become One of Largest PV Development Companies in China Market Following Close of Transaction ROSEVILLE, Calif.—October 24, 2014 - Solar Power, Inc. ("SPI" or "SPI Solar") (OTCBB: SOPW), a vertically-integrated photovoltaic solar developer, today announced that its wholly owned subsidiary, SPI Solar Power Suzhou Co., Ltd. ("SPI Meitai Suzhou") has entered into a framework purchase agreement with ZhongNeng GuoDian New Energy Development and Investment Jiangsu Co., Ltd. ("ZhongNe...

ROSEVILLE, Calif.—October [21], 2014 - SPI Solar ("SPI") (OTCBB: SOPW), a vertically integrated photovoltaic solar developer, today announced the completion of its private placement of common stock for an aggregate $43.8 million, as announced on October 7, 2014. The private placement was led by Evergrande Real Estate Group ("Evergrande")(3333.HK), one of the largest real estate developers in China and whose shares are listed on the Hong Kong Stock Exchange.
Net proceeds from the sale of...

ROSEVILLE, Calif.—October 15, 2014- SPI Solar ("SPI") (SOPW:OTCBB), a vertically integrated photovoltaic (PV) solar developer, today announced that the company will exhibit at the Solar Power International 2014 conference and tradeshow in Las Vegas, Nevada. SPI will present its innovative offering of Yes!® Solar residential PV systems and turnkey business solution for qualified professional installers. Yes!® Solar provides a complete PV solar business solution through a single source...

ROSEVILLE, Calif.-- SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced that it has entered into a definitive purchase agreement for the sale of $43.8 million of common stock in private placements. The company intends to use the net proceeds from the sale of the shares for expansion of SPI's global PV project activities, continued investment in ramping its YES!®Solar solution for the residential and small business segments and working capital pur...

ROSEVILLE, Calif.-- SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced that it has entered into a non-binding memorandum of understanding ("MOU") to subscribe to shares in Guocang Group Limited ("Guocang")(HK). This strategic investment is being made along with Evergrande Real Estate Group Limited ("Evergrande")(3333.HK). Guocang is engaged in various business segments, and its board believes that the additional funding represented by this MOU w...

ROSEVILLE, Calif.-- SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced that it has closed the acquisition of Sinsin Renewable Investment Limited ("SRIL"), a limited liability company registered in Malta, as announced on September 9, 2014. Under the terms of the agreement, SPI's subsidiary, SPI China (HK) Limited, acquired all of the outstanding capital stock of SRIL from Sinsin Europe Solar Asset and Sinsin Solar Capital (collectively "Sinsin") ...

ROSEVILLE, Calif.—September [29], 2014 - SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced the incorporation of its new Japan subsidiary, SPI Solar Japan GK. SPI also announced today that it has entered into definitive agreements regarding the acquisition and development of three solar photovoltaic ("PV") projects in Japan. The first is a 1.975 megawatt ("MW") project in Bando City, Ibaraki Prefecture. SPI Solar Japan GK will provide proje...

ROSEVILLE, Calif.—September 23, 2014 - SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced that it has entered into a definitive purchase agreement for the sale of $48.25 million of common stock in a private placement. The company intends to use the net proceeds from the sale of the shares for expansion of SPI's global PV project activities, continued investment in ramping its YES!® Solar solution for the residential and small business segments a...

ROSEVILLE, Calif.-- SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced the appointment of Amy Jing Liu as Chief Financial Officer (principal financial officer) and Senior Vice President, replacing interim CFO Roger Le Yu."This announcement is the latest in a series of senior-level appointments at SPI Solar in 2014," said Xiaofeng Peng, Chairman of SPI. "We are pleased with Amy's decision to join SPI during a period of robust growth as we expand ...

ROSEVILLE, Calif.-- SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced that its wholly-owned subsidiary, Xinyu Xinwei New Energy Co., Ltd. ("Xinwei"), has signed an agreement to purchase and develop approximately 19 megawatts ("MW") of distributed generation ("DG") solar power projects in Shouguang, Shandong Province, China via the acquisition of a special purpose vehicle ("SPV") that owns the rights to such projects.The agreement calls for the ...

ROSEVILLE, Calif.-- SPI Solar ("SPI") (SOPW:OTCBB), a vertically integrated photovoltaic solar developer, today announced the completion of its private placement of common stock for an aggregate $25.0 million, as announced on July 29, 2014. Net proceeds are expected to be used for expansion of SPI's global PV project activities, continued investment in ramping its YES!®Solar solution for the residential and small business segments, and for working capital purposes.About Solar Power, Inc. (SOPW:O...

ROSEVILLE, Calif.—September 16, 2014 - SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced it has entered into an agreement to acquire certain assets relating to current SPI solar PV projects in Hawaii. Under the terms of the agreement, SPI will acquire Hawaiian Power, LLC's ("HPL's") equity interests and debt related to an SPI and HPL joint venture to develop and operate solar PV projects in Hawaii. As a result of the transaction, SPI will own a...

ROSEVILLE, Calif.—September 4, 2014 - SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced that it has entered into an agreement with a London-based global renewables developer (the "Developer"), to acquire the Developer's right to develop, finance, construct, own and operate two solar PV projects in the United Kingdom ("UK").The solar energy projects located in the UK represent 30.5 megawatts ("MW") of anticipated annual solar energy generation c...

ROSEVILLE, Calif.-- SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced that its wholly-owned subsidiary, Xinyu Xinwei New Energy Co., Ltd. ("Xinwei"), has received preliminary approval from the local government of LiaoCheng City to develop a PV project totaling approximately 10 megawatts (MW), in Shandong Province, China.The project calls for the development of approximately 10 MW of distributed generation ("DG") solar power for the Jia Ming Dev...

ROSEVILLE, Calif.— August 19, 2014- SPI Solar ("SPI")(SOPW:OTCBB), a vertically-integrated photovoltaic (PV) solar developer, today announced its results for the second quarter ended June 30, 2014.Second-Quarter 2014 Results:Total net sales for the second quarter of 2014 were $6.3 million, compared with $4.2 million for the second quarter of 2013. For the first quarter of 2014, SPI Solar reported total net sales of $3.6 million.Total cost of goods sold for the second quarter of 2014 was $5.8 mil...

ROSEVILLE, Calif.-- SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced the conversion of the convertible bond portion held by Robust Elite Limited of the company's previously announced private placement of common stock and convertible bond for an aggregate $21.75 million, as announced on May 6, 2014 and completed on July 15, 2014.About Solar Power, Inc. (SOPW:OTCBB):SPI Solar ("SPI") (Solar Power, Inc.) is a vertically-integrated photovoltaic so...

ROSEVILLE, Calif.—August [5], 2014 - SPI Solar("SPI")(SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced that it has entered into a joint venture agreement with WIRCON GmbH ("WIRCON"), a Germany-based diversified renewable energy company, to develop solar PV projects in the United Kingdom. Within the framework of the agreement, SPI and WIRCON will establish a new joint venture company to develop solar energy projects in the UK, with an initial proposed target...

ROSEVILLE, Calif.-- SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced that it has entered into a definitive purchase agreement for the sale of $25 million of common stock in a private placement. When received, the company intends to use the net proceeds from the sale of the shares for expansion of its global PV project activities, continued investment in ramping its YES! Solar solution for the residential and small business segments, for workin...

ROSEVILLE, Calif.—July 22, 2014 - SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced that its wholly-owned subsidiary, Xinyu Xinwei New Energy Co., Ltd. ("Xinwei"), has entered into two new PV project-related agreements. The first agreement calls for the sale and transfer of a 50 MW project in Fenyi County, China -- announced on July 2, 2014 -- which Xinwei would begin building and developing as one of the largest utility-scale PV projects...

ROSEVILLE, Calif.-- SPI Solar ("SPI") (SOPW:OTCBB), a vertically integrated photovoltaic solar developer, today announced the completion of its private placement of common stock and convertible bond for an aggregate $21.75 million, as announced on May 6, 2014 and amended on June 3, 2014. Net proceeds are expected to be used for working capital purposes and to pay down debt, while improving SPI Solar's operational flexibility."We are pleased to have completed our private placement and with the su...

ROSEVILLE, Calif.-- SPI Solar ("SPI") (SOPW:OTCBB), a vertically integrated photovoltaic (PV) solar developer, today announced that the company will exhibit at the Intersolar North America 2014 conference and tradeshow in San Francisco, California. SPI will showcase its innovative offering of Yes!® Solar residential PV systems and turnkey business solution for qualified professional installers. Yes!® Solar provides a complete PV solar business solution through a single source for its dealer/inst...

ROSEVILLE, Calif.---SPI Solar ("SPI") (SOPW:OTCBB), a vertically integrated photovoltaic solar developer, today announced its results for the first quarter ended March 31, 2014.First-Quarter 2014 and Recent Updates:Announced on May 6, 2014, that the company had entered into a definitive purchase agreement for the sale of $21.75 million of common stock in a private placement with non-U.S. investorsSettled Cathay Bank debt with repayment in full on May 15, 2014Collected approximately $1 milli...

ROSEVILLE, Calif.--SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced that it has entered into a definitive purchase agreement for the sale of $21.75 million of common stock in a private placement. When received, the company intends to use the net proceeds from the sale of the shares for working capital purposes and to pay down debt, while improving its operational flexibility."We are very pleased by the commitment demonstrated by these inv...

ROSEVILLE, Calif.-- SPI Solar ("SPI") (OTCBB:SOPW), a vertically-integrated photovoltaic solar developer announced an amendment to a previously disclosed agreement with KDC Solar to jointly develop and own the Mountain Creek solar project in Vernon, New Jersey. The amendment, which updates the prior agreement announced on February 21, 2014, alters each party's provisions for member ownership stakes and forward operational cash flow distribution due each participating member.In conjunction w...

ROSEVILLE, Calif.--SPI Solar ("SPI") (SOPW:OTCBB), a vertically integrated photovoltaic solar developer, today announced its results for the fourth quarter and year ended December 31, 2013.Fourth-Quarter 2013 Results:Total net sales for the fourth quarter of 2013 were $15.4 million, compared with $13.0 million for the fourth quarter of 2012. For the third quarter of 2013, SPI Solar reported total net sales of $21.3 million.Total cost of goods sold for the fourth quarter of 2013 was $18.7 mi...

ROSEVILLE, Calif.--SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic ("PV") solar developer, and privately held KDC Solar, based in Bedminster, NJ, together announced their agreement to jointly develop and own the Mountain Creek solar project in Vernon, New Jersey. The agreement, which also entails project administration requirements, enables both companies to move forward in completing the project, which calls for the design, development and build-out of multiple solar e...

*Enables Immediate Financing for Imclone Project and Improvement in SPI's Balance Sheet*Creates Pathway Toward Funding for other Projects in North America ROSEVILLE, Calif.-- SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic ("PV") solar developer, today announced that it has executed agreements with KDC Solar and China Development Bank (CDB) to provide immediate financing for the previously announced Imclone project. The all-cash payment to SPI Solar, which resulted...